DBT Bureau
Bengaluru, 21 May
Mid-tier IT services firm, Coforge has announced that it has entered into a collaboration with Microsoft to establish the Coforge Copilot Innovation Hub.
According to the company, the Hub will focus on developing a pipeline of new industry-specific generative AI solutions and will work closely with Microsoft to integrate these solutions with Microsoft’s generative AI products and technologies, including Microsoft Azure OpenAI Service, Microsoft Power Platform, and Microsoft Copilot, the company said in a release.
Coforge said two new copilots will be available-Underwriter Copilot for insurance carriers and Advisor Copilot for financial services organizations.
“The Underwriter Copilot for Insurance is a solution designed to empower insurance underwriters with informed decision-making capabilities and enhanced control, offering a pathway to better ROI and a seamless approach to navigating the complexities of underwriting. The solution focuses on improving combined ratios for carriers by two to three percent, unlocking new revenue opportunities,” the company said in a press release.
The Coforge Advisor Copilot solution allows financial advisors to access comprehensive fund information and performance data swiftly through a user-friendly interface. The solution is intended to increase the productivity of financial advisors and asset managers by more than 30%.
“Coforge is taking advantage of its deep industry strengths and customer partnerships in building industry-specific generative AI solutions on the Microsoft platform to drive transformation and enhance productivity,” CEO of Coforge, Sudhir Singh said.
“This collaboration with Microsoft will further accelerate our efforts to deliver industry-leading generative AI solutions to our customers. We are today introducing two new copilots: Underwriter Copilot for insurance carriers and Advisor Copilot for financial services organisations,” he added.
Commenting on the development, David Smith, Vice President, WW Channel Sales at Microsoft said, “The Coforge Copilot Innovation Hub is a testament to our joint commitment to transform and scale organizational capabilities of financial services organizations worldwide. The use of generative AI has nearly doubled in the last six months, with 75% of people using AI at work, according to the 2024 Work Trend Index Annual Report. Together, Coforge and Microsoft are committed to leading the way in AI adoption, driving innovation, and unlocking business value for enterprises globally.”
